Thursday, March 11, 2010

NRG Energy (NYSE:NRG) was awarded $154 million in taxpayer dollars for the purpose of installing a carbon dioxide capture system from a power plant powered by coal.

The carbon dioxide is used at older oil fields which have usually been abandoned by their former users. Carbon dioxide is used to capture much of the remaining oil, which in many cases can be substantial.

Of course NRG Energy should be paying for this themselves if they believe in it so much and it's economically feasible, but for taxpayers to foot the bill is ridiculous.

Too bad the company associated itself with the climate-change hoax which has been completely debunked as scientists have been found be be falsifying data which had allegedly proved the climate was warming, when indeed it hasn't been for years.

My problem with this is why should a private company receive taxpayers' money in order to install a system which they will then sell the carbon dioxide to?

Also, NRG CEO David Crain needs to keep up with the news and the ongoing exposure of climate-change as a hoax. He said in a statement that the "Development and deployment of these carbon capture technologies at scale, not only in the United States but also worldwide as well, is essential if we are to meet successfully the challenge of global climate change."

Now you know David, there is no climate change, so you can rest and be at peace as you defend grabbing $154 million in money from the taxpayers of America to battle a non-existent problem.

Crane has been in bed with Congress for some time, having testified before the House and the Senate and having a major influence on legislation. We can see how he has now been handsomely rewarded for his efforts.